Trade relations between emerging markets have been strengthening, despite lower economic growth rates in some of their leading representatives. And the longer it takes the eurozone to stabilise and the US to regain competitiveness, the stronger south-south ties will become.
Emerging markets have accounted for 50% of the world’s economic growth every year since 2007 and that proportion will increase to 75% over the next few years, according to HSBC. It is therefore only natural that trade between such markets will intensify.